CORRECT: Romanian Mandatory Private Pension Funds’ Profit Fell 72% In 2011 To RON108.4M

Romanian mandatory private pension funds (Pillar II) posted a cumulated profit of 108.4 million lei (EUR24.9 million) in 2011, down 72% on the year, due to the reduction of the weighted average yield on net assets to 3.1% from 15.1%, according to MEDIAFAX calculations.

In 2010, the cumulated profit registered by Pillar II funds stood at RON383.5 million, which represents the difference between the increase of net assets on the Pillar II segment and the gross contributions to Pillar II funds.

Net assets rose by RON1,947.5 million in 2010 to RON4,311.9 million, and contributions amounted to RON1,564.0 million, according to private pension system regulator CSSPP.